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Investment Securities | 3 Months Ended
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Mar. 31, 2013
Investment Securities [Abstract] |
Investment Securities | Note 3 - Investment Securities The amortized cost and fair value of available-for-sale investment securities at March 31, 2013 and December 31, 2012 are summarized as follows (in thousands):
|  | March 31, 2013 |
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
U.S. Treasury notes |  | $ | 19,447 |  |  |  | 246 |  |  |  | - |  |  |  | 19,693 |
U.S. Agency notes |  |  | 100,668 |  |  |  | 1,021 |  |  |  | 190 |  |  |  | 101,499 |
U.S. Agency mortgage-backed securities |  |  | 53,116 |  |  |  | 1,166 |  |  |  | 126 |  |  |  | 54,156 |
Certificates of deposit with other banks |  |  | 1,494 |  |  |  | 15 |  |  |  | - |  |  |  | 1,509 |
Municipal securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-taxable |  |  | 75,766 |  |  |  | 3,157 |  |  |  | 179 |  |  |  | 78,744 |
Taxable |  |  | 16,684 |  |  |  | 919 |  |  |  | 11 |  |  |  | 17,592 |
Mutual funds |  |  | 2,201 |  |  |  | 22 |  |  |  | - |  |  |  | 2,223 |
Trust preferred securities |  |  | 149 |  |  |  | 3 |  |  |  | 4 |  |  |  | 148 |
Equity securities |  |  | 1,751 |  |  |  | 261 |  |  |  | 17 |  |  |  | 1,995 |
|  | $ | 271,276 |  |  |  | 6,810 |  |  |  | 527 |  |  |  | 277,559 |
|  | December 31, 2012 |
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
U.S. Treasury notes |  | $ | 18,462 |  |  |  | 224 |  |  |  | - |  |  |  | 18,686 |
U.S. Agency notes |  |  | 89,372 |  |  |  | 1,364 |  |  |  | 130 |  |  |  | 90,606 |
U.S. Agency mortgage-backed securities |  |  | 51,121 |  |  |  | 1,444 |  |  |  | 24 |  |  |  | 52,541 |
Corporate securities |  |  | 3,032 |  |  |  | 35 |  |  |  | - |  |  |  | 3,067 |
Municipal securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-taxable |  |  | 70,504 |  |  |  | 3,497 |  |  |  | 119 |  |  |  | 73,882 |
Taxable |  |  | 14,851 |  |  |  | 993 |  |  |  | 3 |  |  |  | 15,841 |
Mutual fund |  |  | 2,138 |  |  |  | 30 |  |  |  | - |  |  |  | 2,168 |
Trust preferred securities |  |  | 250 |  |  |  | 2 |  |  |  | 7 |  |  |  | 245 |
Equity securities |  |  | 1,390 |  |  |  | 106 |  |  |  | 26 |  |  |  | 1,470 |
|  | $ | 251,120 |  |  |  | 7,695 |  |  |  | 309 |  |  |  | 258,506 |
The fair value of held-to-maturity investment securities, consisting of non-taxable and taxable municipal securities, approximates amortized cost at March 31, 2013 and December 31, 2012. Information concerning securities with gross unrealized losses at March 31, 2013, aggregated by length of time that individual securities have been in a continuous loss position, is as follows (in thousands):
|  | Less than Twelve Months |  |  | Twelve Months or More |
|  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
U.S. Agency notes |  | $ | 23,040 |  |  |  | 190 |  |  |  | - |  |  |  | - |
U.S. Agency mortgage-backed securities |  |  | 11,255 |  |  |  | 126 |  |  |  | - |  |  |  | - |
Municipal securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-taxable |  |  | 13,130 |  |  |  | 178 |  |  |  | 453 |  |  |  | 1 |
Taxable |  |  | 1,922 |  |  |  | 11 |  |  |  | - |  |  |  | - |
Mutual funds |  |  | 57 |  |  |  | - |  |  |  | - |  |  |  | - |
Trust preferred securities |  |  | 47 |  |  |  | 3 |  |  |  | 49 |  |  |  | 1 |
Equity securities |  |  | 111 |  |  |  | 3 |  |  |  | 101 |  |  |  | 14 |
|  | $ | 49,562 |  |  |  | 511 |  |  |  | 603 |  |  |  | 16 |
Management has determined that the unrealized losses at March 31, 2013 are primarily due to fluctuations in market interest rates and do not reflect credit quality deterioration of the securities. Because the Company does not have the intent to sell the investments and it is more likely than not that the Company will not be required to sell the investments before recovery of their amortized cost bases, which may be at maturity, the Company does not consider these investments to be other-than-temporarily impaired.

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